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Wealth-Tax Act, 1957

Schedule III - RULES FOR DETERMINING THE VALUE OF ASSETS

61[SCHEDULE III

[See section 7(1)]

RULES FOR DETERMINING THE VALUE OF ASSETS

PART A

GENERAL

Value of assets how to be determined.

1. The value of any asset, other than cash, for the purposes of this Act, shall be determined in the manner laid down in these rules.

Definitions.

2. In this Schedule, unless the context otherwise requires,-

(1)- "accounting year" in relation to a company means a period in respect of which any profit and loss account of the company laid before it in the annual general meeting is made up ;
*(2)- "debenture" includes debenture stock, bonds and any other securities of a company, whether constituting a charge on the assets of the company or not;
*(3)- "equity share" means any share in the share capital of a company other than a preference share;
(4)-.... To read the full section download the app from Google Play store

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